New York State Department Of Financial Services Superintendent Vullo Issues Cybersecurity Filing Deadline Reminder
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New York’s first-in-the-nation cybersecurity regulation became effective March 1, 2017. As of the first implementation deadline of August 28, 2017, all banks, insurance companies, and other financial services institutions and licensees regulated by DFS are required to have a cybersecurity program in place that is designed to protect consumers’ private data; a written policy or policies that are approved by the board or a senior officer; a Chief Information Security Officer to help protect data and systems; and controls and plans in place to help ensure the safety and soundness of New York’s financial services industry. Covered entities and licensees must also report cybersecurity events to DFS through the Department’s secure online cybersecurity portal.
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